2 years ago
169 FinanceFeeds -
It’s been settled. Judge Sarah Netburn has ordered for the deposition of William Hinman, the former SEC Director who gave a speech in 2018 stating that Ether is not a security.
The United States jurisprudence requires exceptional circumstances for a deposition of a (former) high ranking government official.
The Judge found the precedent-setting SEC v. Ripple lawsuit to be unique and the extraordinary public interest – the hearing had 4,000 people listening to the phone conference – justify the deposition.
The SEC, however, remains resistant and said it “would need time to evaluate that”. So, the plaintiff might object this week and already “vowed” to invoke deliberative process privilege if Hinman was deposed.
Commenting on Twitter, attorney John E. Deaton, said “the fight over the Hinman deposition has now just begun. It will be a heated “meet and confer” meeting I can promise you that”.
“If I was a lawyer for Ripple, I would find out immediately if the SEC intends to object to several basic non-privileged questions.”
The lawyer for the XRP holders then offered ten questions that don’t fall under the privilege argument:
1) how many drafts did the speech undergo;
2) who helped draft or compose the speech;
3) who reviewed the speech before you gave it;
4) did you submit the speech to any of the commissioners or Chairman;
5) anyone outside of the SEC assist you;
6) what research, articles, publications or technical resources did you review before giving the speech;
7) what input did the founder of the ETH foundation provide you before reaching your opinion;
8) what other digital assets did you review or compare to ETH before speech;
9) did you send any emails or messages with any lawyers or staff at Simpson Thatcher before giving that speech;
10) list each person you spoke to about the speech before giving it
“But if the SEC is going to object to these basic questions, I would go to the Judge and ask the Judge to appoint a Special Master (ie the Judge herself or a retired Judge) to preside over the deposition and rule on objections live on the spot”, Deaton concluded.
The deposition should take place on Monday, July 19. Prior to the hearing, Deaton explained what the public should know about William Hinman and his speech in 2018 that still raise questions regarding conflict of interest.
In the aftermath of the Judge ruling, attorney Jeremy Hogan noticed the SEC’s impressive resistance to the deposition.
“Even thinking about appealing this Order suggests to me that the SEC is desperate for this Deposition not to go forward. Desperate”, Mr. Hogan said.
The post SEC v. Ripple: Deposition may require a Special Master to rule on SEC’s objections appeared first on FinanceFeeds.
